An accounting degree can create several opportunities for jobs available in the current job economy. These can start from the mundane and obvious such as accountant and auditor to more interesting jobs. This can include an international accountant, a person who travels across the globe and reports on the world’s financial status, to the CEO of a company. However, one niche group is starting to gain momentum among the rest of these careers, this job being in forensic accounting.
Forensic accounting in the general sense is an accountant who is hired to look into possible white collar activities in a company, or to prevent the crimes from occurring. A white collar crime is a nonviolent crime that is motivated by money and is against either a large company or the government. These crimes often are committed by workers who are at a higher status than what would be considered given the opportunity for more possible passwords and special intelligence not shared with the general workforce. Some common crimes that are perpetrated include embezzlement, fraud, bribery, and identity fraud. These crimes are not only more complex to complete but are also more destructive to the company than some crimes, such as shoplifting or graffiti. White collar crimes can completely destroy a company's assets, reputation, or even completely bankrupt a company if the heist is efficient enough. Since these crimes are so devastating to the business world, a forensic account is an absolute must in order for businesses to stay competitive and safe.
Because forensic accounting is such a specialized job there are several qualifications that are required in order to be recognized as an forensic accounting. First, a person wanting to becoming a forensic account...
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...exam application, which includes proof of education as well as professional recommendations. According to the website, it is recommended that all this information is sent in a month prior to when one is planning on taking the exam. After paying the three hundred and fifty dollar fee, you can then take the exam. The evaluation is a computer test that is comprised of four components. The four sections are Financial Transactions and and Fraud Schemes, Law, Investigation, and Fraud Prevention and Deterrence. Once a person passes the exam they become a CFE and have to pay the annual dues in order to keep their certification. This certification is very valuable in the forensic accounting market. With a CFE a forensic accountant in the median range can have an increase of nineteen thousand dollars compared to a median ranged forensic accountant who does not have a CFE.
In just a year of attending these schools I have been able to recognize the evil that lies within the darkness of many business activities and I would like to branch out and try to be the one good guy that will try to help others instead of throwing people under the bus for my own selfish benefit. Listening to cases where white collar workers deceiving people and steal from not only people but from their very own firm is what has inspired me to pursue a career a degree in Forensic Accounting. Being a man who has came from nothing and has worked hard for everything I have today, it is infuriating hearing about the millions of dollars that “mysteriously” go missing. With a refined education from a prestigious school such as St. Edwards, I will most certainly be able to find the real crooks of America who for a long time now have easily gotten
All forensic anthropologists are expected to obtain certification through the ABFA. The full day ABFA certification exam includes a multiple choice section and a practical skills section. The multiple choice exam tests the examinee’s comprehension of forensic anthropology. Examinees should be familiar with current forensic anthropology literature, such as industry standard forensic journals and publications. The hands-on portion consists of stations that contain tools and equipment needed to complete standard forensic
Most people consider this crime to consist of CEO’s manipulating their way to making a large fortune. This of course, is true most of the time in high-profile cases. For example, in late 2001 Enron Corporation executives confessed to overstating the company’s earnings. This lead to artificially inflating what the company was worth and deceived the investors. It took some time to unravel all the fraud put behind this devious act but shows how sophisticated white-collar crime can be. Although it’s usually associated with upper management of corporations, people from all different levels and occupations can perform this crime ("How White-collar Crime Works").
Why does white collar and corporate crime tend to go undetected, or if detected not prosecuted? White collar and corporate crimes are crimes that many people do not associate with criminal activity. Yet the cost to the country due to corporate and white collar crime far exceeds that of “street” crime and benefit fraud. White collar and corporate crimes refer to crimes that take place within a business or institution and include everything from tax fraud to health and safety breaches. Corporate crime is extremely difficult to detect for many reasons.
White collar crimes are fraudulent acts committed for the determined and selfish gain of finance. Three of the most common white-collar crimes are typically fraud, money laundering, and embezzlement. Fraud can happen in many different forms such as insurance fraud, tax evasion, and securities fraud. Fraud is the use of deceitful statements or untrue business deals. Money laundering is a scheme for criminals to hide their identity. Criminals will sometimes launder money through banks and corporations to keep their activities going strong while staying hidden from the prosecution. Embezzlement is the theft of funds belonging to a workplace or one’s employer. Any person working with finances within their workplace who has access or granted authority to make decisions has the potential to become corrupted.
In the twentieth century, White Collar and Organized Crimes have attracted the attention of the U.S. Criminal Justice System due to the greater cost to society than most normal street crime. Even with the new attention by the Criminal Justice System, both are still pretty unknown to the general public. Although we know it occurs, due to the lack of coverage and information, society does not realize the extent of these crimes or the impact. White Collar and Organized is generally crime committed by someone that is considered respectable and has a high social status. The crimes committed usually consist of fraud, insider trading, bribery, embezzlement, money laundering, identity theft or forgery. One person would not normally commit all of these but likely one or the other.
Accounting fraud refers to fraud that is committed by a company by maintaining false information about the sales and income in the company books, when overstating the company's assets or profits, when a company is actually undergoing a loss. These fraudulent records are then used to seek investment in the company's bond or security issues. By showing these false entries, the company attempts to apply fraudulent loan applications as a final attempt to save the company by obtaining more money from bankruptcy. Accounting frauds is actually done to hide the company’s actual financial issues.
White collar crime was first defined by an American sociologist from Nebraska, Edwin Sutherland, in 1939. He defined it as “A crime committed by a person of respectability or of high social status in the course of his occupation”. Now days, it is defined as “A crime that is financially motivated non- violent and committed by business or government professionals.” White collar criminals do not use violence to obtain the money but instead they use deceit and concealment, they misuse their power and trust. It is often seen as a less serious crime although we hear about these types of crime in the news all the time. The most common types of white collar crime are embezzlement, tax evasion, money laundering.
What did they do ? Before we talk about it any further, we have to know some definitions that we use in digital forensics and digital evidence, not only two of them but the others too. This chapter will explain about it . Before we talk about it any further, we have to know the definition of what we are talking about. In the introduction we already know what digital forensic and digital evidence shortly are. In this chapter, we will more explore what they are, and some state that we found when we search about digital forensic and digital evidence. Computer forensics is a broad field and applied to the handling of crimes related to information technology. The goal of computer forensic is to securing and analyzing digital
Fraud and white-collar crime are common forms of crimes that people commit in various aspects and positions in the corporate world. Fraud and white-collar crimes have similar meaning as they refer to the non-violent crimes that people commit with the basic objective of gaining money using illegal means. The cases of white-collar crimes have been increasing exponentially in the 21st century due to the advent of technology because fraudsters apply technological tools in cheating, swindling, embezzling, and defrauding people or organizations. White-collar crime is a complex issue in society because its occurrence is dependent on many factors such as organizational structure, organization culture, and personality traits. Thus, the literature review examines how organizational structure, organizational culture, and personality traits contribute to the occurrence of white-collar crimes.
ABSTRACT: The quantity of accounting fraud cases keeps on rising. Fraud is a consistent thing that will reliably be around, and in a bigger number of routes than just a single. An extensive apportionment of organizations out there fighting fraud, either from within the organization, or from outside the organization. Knowing how to manage this is essential for an organization to be productive over an extended period of time. The investigation regarding the matter of accounting fraud will utilize sources from the web and the DeVry School Library.
Forensic investigations require skills of specially trained scientists, police, engineers, doctors and others. “These investigators observe all types of evidence, from weapons to bloodstains and from computers to bugs” (Erzinclioglu 5). The greater the evidence against a person, the greater the chance of conviction.
My interest in Accounting and Finance stems from wanting to understand how governments and businesses make their vital decisions to be profitable. Studying this degree, will allow me to gain an understanding of financial accounting, management accounting and taxation providing me with skills to analyse data and develop my decision making. Additionally being able to incorporate different aspects of business alongside the core modules; will give me more knowledge of the world of accounting and finance.
Accountants are becoming a needed job in the business industry and play a very important role in the success of many businesses. This job usually requires at least a bachelor’s degree in accounting and sometimes even a CPA (Certified Public Accountant). There are many other things that are needed to be considered before choosing this career. The job environment, education, skills, and benefits are just some of the many things that need to be thought through before considering this career.
The revenue/cost period-: Revenue and the cost period in accounting that the company get income from normal business activities. It’s referred to normal business income that the company got by selling their product and service.